The deal is expected to be finalised by the early first quarter of 2025. Credit: APChanel/Shutterstock.com.

Energy Capital Partners (ECP) has agreed to acquire UK-based renewable energy developer Atlantica Sustainable Infrastructure for $2.55bn.

Atlantica owns diverse assets including renewable energy, storage, efficient natural gas, electric transmission and water resources across the Americas and select EMEA (Europe, the Middle East and Africa] markets.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

At the end of March 2024, the company operated renewable energy plants with a combined capacity of 2.2GW. It reported revenues of $242.9m in the first quarter of the year.

Atlantica shareholders will receive $22 in cash for each share they own.

The offer is an 18.9% premium over Atlantica’s closing share price on 22 April 2024, the day before speculation about the deal emerged in the media.

See Also:

Algonquin Power & Utilities Corp and its subsidiary, Liberty (AY Holdings), which collectively hold a 42.2% stake in Atlantica, have pledged their support for the acquisition.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The transaction is the culmination of a thorough strategic review by Atlantica, exploring options for the company’s future.

The completion of the acquisition is contingent on shareholder and regulatory approvals.

The parties anticipate finalising the deal by the fourth quarter of 2024 or the early first quarter of 2025.

Atlantica CEO Santiago Seage stated: “We expect to continue executing on our growth strategy as a private company with the support of our new partners.

“ECP has a long track record and expertise in the sustainable infrastructure sector and, together with its global co-investors, will enhance Atlantica’s ability to finance and deliver growth while maintaining our focus on safety, sustainability and value creation.”

ECP partner Andrew Gilbert said: “Atlantica’s employees and management team have a long and impressive track record of maximising value across a complex set of global assets.

“ECP is excited about the opportunity to partner with the company and to support and accelerate its growth.”